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Public R&D expenditure and private R&D expenditure: a causality analysis

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  • Seung-Hoon Yoo

Abstract

This paper examines the long-run and short-run causality issues between public R&D expenditure and private R&D expenditure in Korea by using the cointegration and error-correction models. The overall results show that there exists bidirectional causality between public R&D expenditure and private R&D expenditure. This means that increasing public R&D expenditure has a direct effect on private R&D expenditure and vice versa.

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  • Seung-Hoon Yoo, 2004. "Public R&D expenditure and private R&D expenditure: a causality analysis," Applied Economics Letters, Taylor & Francis Journals, vol. 11(11), pages 711-714.
    • Handle: RePEc:taf:apeclt:v:11:y:2004:i:11:p:711-714
    DOI: 10.1080/1350485042000236575
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    Cited by:

    1. Roger Svensson, 2013. "Publicly-funded R&D programs and survival of patents," Applied Economics, Taylor & Francis Journals, vol. 45(10), pages 1343-1358, April.
    2. Yemane Wolde-Rufael, 2009. "Does Public R&D Crowd Out Private R&D? A Note From Taiwan, Roc," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 34(1), pages 59-69, June.
    3. Heinz Handler & Andreas Knabe & Bertrand Koebel & Margit Schratzenstaller & Sven Wehke, 2005. "The Impact of Public Budgets on Overall Productivity Growth," WIFO Working Papers 255, WIFO.
    4. Zoltán Lakner & Anna Kiss & József Popp & Zoltán Zéman & Domicián Máté & Judit Oláh, 2019. "From Basic Research to Competitiveness: An Econometric Analysis of the Global Pharmaceutical Sector," Sustainability, MDPI, vol. 11(11), pages 1-17, June.
    5. Argentino Pessoa, 2007. "Innovation and Economic Growth: What is the actual importance of R&D?," FEP Working Papers 254, Universidade do Porto, Faculdade de Economia do Porto.

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